CEDECOM to expand credit scheme

Cape Coast, Feb. 4, GNA- The Central Region Development Commission (CEDECOM), would by July this year, with support from the United States (US)-based Shorebank Corporation, expand its micro-finance credit scheme to enable it offer more support to small and medium scale businesses in the region.

It has disbursed a total of 400 million cedis, as loans to support 1,500 small-scale entrepreneurs in the Cape Coast, Komenda-Edina-Eguafo-Abrem (KEEA) Abura-Asebu -Kwamankese and Twifo-Heman -lower Denkyira districts, since the credit scheme was introduced four years ago.

The executive director of CEDECOM, Mr. Foster Forson, who disclosed this in an interview with the Ghana News Agency at Cape Coast on Wednesday, said Shorebank Corporation, a development bank, is to offer support in training and finance.

Mr. Forson could however, not readily tell how much the corporation would provide, but said the expansion programme, involved developing the Commission's human resource capacity, introduction of new credit products, and the provision of a viable information technology system.

He said a team, from the bank, made up of IT specialists, operational officers and a monitoring officer, would arrive in the country by February 17, to assess the Commission's preparation for the expansion programme in all 12 districts of the region, to facilitate its smooth implementation.

The Executive Director, said the Commission also hopes to organise training programmes for its clients this year, to enable them develop their skills to improve their businesses. Mr. Forson, said it is the objective of the Commission to develop the credit scheme, into a company to adequately address the financial needs of micro, small and medium scale enterprises.